Andhra Pradesh has bagged a big-ticket investment as Shree Cement has decided to set up an integrated cement manufacturing plant in Guntur district. The company has decided to invest nearly 25 billion. Shree Cement’s board has approved the plans to set up the new plant. It will set up the plant with 3 million metric tonnes (MMT) annual production capacity.

Sources said the state government has identified and allocated land near Peda Garlapadu village of Gurazala constituency. The company has already finished the spade work before formally launching the work. The company is gearing up to complete the first phase of the project by 2024.